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Application of Skills Directions: Apply the Knowledge You Have Gained from Chapter 8

question 14

Multiple Choice

Application of Skills
Directions: Apply the knowledge you have gained from Chapter 8 to select the best answer to the questions about the following reading passage.
Just Another Night
¹ It was just another night at the frat house. The drinking started early and usually didn't stop until dawn. One of my brothers, a popular easy-going guy named Ryan-not usually much of a drinker-was celebrating a big birthday: his twenty-first. Egged on by the hooting crowd, Ryan bolted down one drink after another, after another, after another.
²By the time Ryan reached 12 drinks, he was slurring his words. As he kept chugging drinks, his face looked flushed; he started sweating heavily. When Ryan lurched to his feet, he swayed unsteadily for a few moments and then collapsed. At first everyone laughed. Then we tried to revive him. We couldn't.
³ "He's not breathing!" I shouted. Someone called 911, and paramedics rushed Ryan to the nearest hospital. His blood-alcohol concentration was several times above the legal limit. Despite intensive efforts by the medical team, nothing helped. Ryan's twenty-first birthday was his last. Our party was over.
-adapted from Hales, An Invitation to Health: Choosing to Change , p. 377
What is the setting of this story?

Definitions:

Monopsony Power

A market condition where there is only one buyer for a product or service, giving that buyer significant control over prices.

Price

Price is the amount of money expected, required, or given in payment for something, playing a central role in the economics of market transactions.

Good

An item or product that can be bought, sold, or traded, contributing to an economy's wealth or resources.

Monopsonist

A market condition in which there is only one buyer for a product or service, giving the buyer substantial power over prices.